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As stocks and oil look to extend gains to cap a big week, natural gas (UNG -2.2%) tumbles 3.1%...

As stocks and oil look to extend gains to cap a big week, natural gas (UNG -2.2%) tumbles 3.1% as MDA Earthsat says below-average temperatures likely will be “widespread” across the Midwest over the next 6-to-10 days and the East Coast will be chillier over the next 11-to-15 days. "Cooler temps are going to keep the pressure on the bulls," one analyst says.
Comments (6)
  • TGCFG
    , contributor
    Comments (49) | Send Message
     
    Well that analyst is wrong! Just the opposite; When the weather starts to get cold , people need to heat there homes, and business and production companies are building inventories ahead of the season to great ready for the increased demand. If it's getting colder earlier that's bullish for natural gas and UNG. AccuWeather.com says "There is a significant chance for particularly frigid winters (yes that's plural) for 2012-2013, 2013-2014 and 2014-2015." AccuWeather.com's Joe Bastardi says these winers could be similar to the winters of the late 1970's.
    14 Sep 2012, 05:00 PM Reply Like
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    The point being made is that it will be cooler in the E reducing the need for air conditioning and warmer in the Midwest reducing need for heating.

     

    That said, weather is weather, and the art of predicting it still eludes us.
    14 Sep 2012, 05:50 PM Reply Like
  • Mark Anthony
    , contributor
    Comments (3601) | Send Message
     
    I would like to find out exactly WHO that anonymous weather forecaster is, and WHY supposedly most natural gas futures traders on the floor know the forecaster's name and pay attention to him better than they do to Mr. Ben Benanke.

     

    Because if he makes weather forecasts 2 weeks into the future and if he could make such forecasts accurately, he would have broken some physics laws and deserves to win a Nobel Prize for that.

     

    Seriously, long term weather forecast more than five days into the future is virtually impossible if you know some basic physics. That is common knowledge.

     

    The natural gas futures market is rigged by some big players. That is the only logical explanation.
    14 Sep 2012, 05:43 PM Reply Like
  • rajesh007
    , contributor
    Comments (13) | Send Message
     
    we are in wave 3 of nat gas..this is a violent and volatile wave.but this wave takes the steepest climb.so relax.tgt is 3.5 after crossing 3.12.can check my fb page.RAJESH V HATHIRAMANI
    we were buying from 1.9
    15 Sep 2012, 12:14 AM Reply Like
  • rajesh007
    , contributor
    Comments (13) | Send Message
     
    im a technical analyst and a stock trader.i called a bottom in facebook near $17 for tgt of 30.it came to 17.5 and is now 22.can see my page on fb...RAJESH V HATHIRAMANI so i hope im right about nat gas too.
    15 Sep 2012, 12:16 AM Reply Like
  • Technicalmaster1966
    , contributor
    Comments (15) | Send Message
     
    The momentum seems to have weakend ending this past week. Even though we are finishing up for the weak, We are closing below the volume spike from Tues trade. The 200 day and 50 day are at a point that controls the downtrend. Next fridays close will say alot on which direction Ung will go. My feelings are Ung will trade lower into early october.
    15 Sep 2012, 09:11 AM Reply Like
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